Question 1

The BLS reported in 2005 that there were 53.23 million people over age 25 who had at least a bachelor's degree 40.59 million of them were employed and .98 million of them were unemployed.What were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

The labor-force participation rate is calculated as (employed + unemployed) / total with a bachelor's degree = (40.59 + 0.98) / 53.23 = 78.1%. The unemployment rate is calculated as unemployed / (employed + unemployed) = 0.98 / (40.59 + 0.98) = 2.4%.

Question 2

The BLS reported in 2005 that there were 59.98 million people over age 25 whose highest level of education was a high school degree or equivalent.From this group 36.40 million were employed and 1.93 million were unemployed.About what were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

The labor-force participation rate is calculated as (employed + unemployed) / total population, which is (36.40 + 1.93) / 59.98 = 63.9%. The unemployment rate is calculated as unemployed / (employed + unemployed), which is 1.93 / (36.40 + 1.93) = 5.0%.

Question 3

Labor Stats
The Labor Market
This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor.
 
-Refer to Labor Stats.What is the adult male labor force in Meditor?

Accepted Answer

According to the table, the adult male labor force in Meditor is 90 million. This is the number of adult men in Meditor who are either employed or actively seeking employment.

Question 4

Labor Stats
The Labor Market
This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor.
 
-Refer to Labor Stats.What is the adult female unemployment rate in Meditor?

Accepted Answer

The adult female unemployment rate in Meditor is 7.14% according to the Labor Stats data.

Question 5

In 2004,based on concepts similar to those used to estimate U.S.employment figures,the Japanese adult non-institutionalized population was 109.684 million,the labor force was 65.760 million,and the number of people employed was 62.630 million.According to these numbers,the Japanese labor-force participation rate and unemployment rate were about

Accepted Answer

The labor-force participation rate is calculated as (labor force / adult non-institutionalized population) * 100 = (65.760 / 109.684) * 100 ≈ 60%. The unemployment rate is calculated as ((labor force - employed) / labor force) * 100 = ((65.760 - 62.630) / 65.760) * 100 ≈ 4.8%.

Question 6

Suppose that in some state the adult population is 4 million,the labor-force participation rate is 75%,and that .25 million people are unemployed.What is the unemployment rate to the nearest tenth?

Accepted Answer

Number of people in labor force = (75/100) x 4 million = 3 million

Number of employed people = 3 million - 0.25 million = 2.75 million

Unemployment rate = (0.25 million/3 million) x 100 = 8.3%

Therefore, the answer is C) 8.3%.

Question 7

Labor Stats
The Labor Market
This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor.
 
-Refer to Labor Stats.What is the adult male unemployment rate in Meditor?

Accepted Answer

To calculate the adult male unemployment rate, we need to divide the number of unemployed adult males by the total number of adult males in the labor force (which includes both employed and unemployed individuals). From the table, we can see that the number of unemployed adult males is 400 and the total number of adult males in the labor force is 7,200. Therefore, the unemployment rate is (400/7200) x 100 = 5.56%. Therefore, the correct answer is C.

Question 8

In 2004,based on concepts similar to those used to estimate U.S.employment figures,the Italian adult non-institutionalized population was 45.020 million,the labor force was 24.065 million,and the number of people employed was 22.105 million.According to these numbers,the Italian labor-force participation rate and unemployment rate were about

Accepted Answer

The labor-force participation rate can be calculated by dividing the labor force by the adult non-institutionalized population, which gives 24.065/45.02=0.535 or 53.5%. The unemployment rate can be calculated by subtracting the number of people employed from the labor force and dividing the result by the labor force, which gives (24.065-22.105)/24.065=0.081 or 8.1%. Therefore, the correct choice is C.

Question 9

The BLS reported in 2005 that there were 28.19 million people over age 25 who had no high school degree or its equivalent.In this group 11.73 million were employed and 1.04 million were unemployed.About what were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

Labor-force participation rate = (employed + unemployed) / total population in group = (11.73 + 1.04) / 28.19 = 45.3%
Unemployment rate = unemployed / (employed + unemployed) = 1.04 / (11.73 + 1.04) = 8.1%

Question 10

Suppose some country had an adult population of about 50 million,the labor-force participation rate was 60 percent,and the unemployment rate was 5 percent.What were the number of people employed and the number of people in the labor force?

Accepted Answer

The labor force is the sum of employed and unemployed individuals. Using the given information:
- Labor force participation rate = 60%, so the size of the labor force is 60% of the adult population: 
50 million x 0.60 = 30 million
- Unemployment rate = 5%, so the number of unemployed individuals is:
30 million x 0.05 = 1.5 million
- To find the number of employed individuals, we subtract the number of unemployed from the labor force:
30 million - 1.5 million = 28.5 million

Question 11

Suppose some country had an adult population of about 46.5 million,the labor-force participation rate was 63.5 percent,and the unemployment rate was 5.8 percent.What were the number of people employed and the number of people unemployed?

Accepted Answer

The number of people in the labor force can be found by multiplying the adult population by the labor-force participation rate:
46.5 million x 0.635 = 29.4775 million (about 29.5 million)

The number of unemployed people can be found by multiplying the labor force by the unemployment rate:
29.4775 million x 0.058 = 1.7082 million (about 1.7 million)

The number of employed people can be found by subtracting the number of unemployed from the labor force:
29.4775 million - 1.7082 million = 27.7693 million (about 27.8 million)

Therefore, the best choice is D: about 27.8 million and 1.7 million.

Question 12

Labor Stats
The Labor Market
This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor.
 
-Refer to Labor Stats.What is the adult male labor-force participation rate in Meditor?

Accepted Answer

The labor-force participation rate is calculated as the labor force divided by the adult population. In Meditor, the adult male labor-force participation rate is 66.67%, which is the correct calculation based on the given data.

Question 13

Suppose some country had an adult population of about 25 million,the labor-force participation rate was 60 percent,and the unemployment rate was 6 percent.What were the number of people employed and the number of people in the labor force?

Accepted Answer

The labor force is 60% of the adult population, or 0.60 * 25 million = 15 million. The number of people employed is 94% of the labor force, or 0.94 * 15 million = 14.1 million.

Question 14

Labor Stats
The Labor Market
This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor.
 
-Refer to Labor Stats.What is the adult male population in Meditor?

Accepted Answer

The adult male population in Meditor is 135 million according to the Labor Stats data.

Question 15

Labor Stats
The Labor Market
This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor.
 
-Refer to Labor Stats.What is the adult female labor force in Meditor?

Accepted Answer

According to the table, the total number of females ages 16 and over is 140 million, and the female labor force participation rate is 50%. Therefore, the adult female labor force in Meditor is 70 million (140 million x 0.50 = 70 million).

Question 16

Labor Stats
The Labor Market
This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor.
 
-Refer to Labor Stats.What is the adult female labor-force participation rate in Meditor?

Accepted Answer

The adult female labor-force participation rate can be calculated as the number of adult females in the labor force (4,800) divided by the total number of adult females (7,200) and then multiplied by 100 to get a percentage. Therefore, (4,800 ÷ 7,200) x 100 = 66.67%.

Question 17

In 2004,based on concepts similar to those used to estimate U.S.employment figures,the Swedish adult non-institutionalized population was 6.712 million,the labor force was 4.576 million,and the number of people employed was 4.276 million.According to these numbers,the Swedish labor-force participation rate and unemployment rate were about

Accepted Answer

The labor-force participation rate is calculated as (labor force / adult population) * 100 = (4.576 / 6.712) * 100 ≈ 68.2%. The unemployment rate is calculated as ((labor force - employed) / labor force) * 100 = ((4.576 - 4.276) / 4.576) * 100 ≈ 6.6%.

Question 18

Suppose that in the small country of Sociopolis there are 6 million people in the adult population,that the labor-force participation rate is 70 percent,and that there are 3.8 million people employed.To the nearest tenth,what is the unemployment rate?

Accepted Answer

The number of people in the labor force can be found by multiplying the adult population by the labor-force participation rate:

6 million x 0.70 = 4.2 million

The number of people unemployed can be found by subtracting the number of employed people from the labor force:

4.2 million - 3.8 million = 0.4 million

The unemployment rate can then be found by dividing the number of unemployed by the labor force and multiplying by 100%:

0.4 million / 4.2 million x 100% = 9.5%

Therefore, the answer is choice B, which is the closest to 9.5%.

Question 19

The BLS reported in 2005 that there were 50.40 million people over age 25 whose highest level of education was some college or an associate degree.33.86 million of them were employed and 1.27 million of them were unemployed.About what were the labor-force participation rate and the unemployment rate for this group?

Accepted Answer

The labor-force participation rate is calculated as (Employed + Unemployed) / Total population = (33.86 + 1.27) / 50.40 = 69.7%. The unemployment rate is calculated as Unemployed / (Employed + Unemployed) = 1.27 / (33.86 + 1.27) = 3.6%.

Question 20

In 2004,based on concepts similar to those used to estimate U.S.employment figures,the Canadian adult non-institutionalized population was 25.022 million,the labor force was 16.956 million,and the number of people employed was 15.864 million.According to these numbers,the Canadian labor-force participation rate and unemployment rate were about

Accepted Answer

The labor-force participation rate is the percentage of the adult non-institutionalized population that is in the labor force. In this case, the labor-force participation rate is 16.956 million / 25.022 million * 100 = 67.8%. The unemployment rate is the percentage of the labor force that is unemployed. In this case, the unemployment rate is (16.956 million - 15.864 million) / 16.956 million * 100 = 6.4%.

Quiz 28: Unemployment

The BLS reported in 2005 that there were 53.23 million people over age 25 who had at least a bachelor's degree 40.59 million of them were employed and .98 million of them were unemployed.What were the labor-force participation rate and the unemployment rate for this group?

Labor Stats The Labor Market This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor. -Refer to Labor Stats.What is the adult male labor force in Meditor?

Labor Stats The Labor Market This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor. -Refer to Labor Stats.What is the adult female unemployment rate in Meditor?

Suppose that in some state the adult population is 4 million,the labor-force participation rate is 75%,and that .25 million people are unemployed.What is the unemployment rate to the nearest tenth?

Labor Stats The Labor Market This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor. -Refer to Labor Stats.What is the adult male unemployment rate in Meditor?

The BLS reported in 2005 that there were 28.19 million people over age 25 who had no high school degree or its equivalent.In this group 11.73 million were employed and 1.04 million were unemployed.About what were the labor-force participation rate and the unemployment rate for this group?

Suppose some country had an adult population of about 50 million,the labor-force participation rate was 60 percent,and the unemployment rate was 5 percent.What were the number of people employed and the number of people in the labor force?

Suppose some country had an adult population of about 46.5 million,the labor-force participation rate was 63.5 percent,and the unemployment rate was 5.8 percent.What were the number of people employed and the number of people unemployed?

Labor Stats The Labor Market This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor. -Refer to Labor Stats.What is the adult male labor-force participation rate in Meditor?

Suppose some country had an adult population of about 25 million,the labor-force participation rate was 60 percent,and the unemployment rate was 6 percent.What were the number of people employed and the number of people in the labor force?

Labor Stats The Labor Market This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor. -Refer to Labor Stats.What is the adult male population in Meditor?

Labor Stats The Labor Market This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor. -Refer to Labor Stats.What is the adult female labor force in Meditor?

Labor Stats The Labor Market This table shows the 2003 data for males and females ages 16 and over in the imaginary country of Meditor. -Refer to Labor Stats.What is the adult female labor-force participation rate in Meditor?

Suppose that in the small country of Sociopolis there are 6 million people in the adult population,that the labor-force participation rate is 70 percent,and that there are 3.8 million people employed.To the nearest tenth,what is the unemployment rate?